Dr. Doom, Nouriel Roubini says the worst is yet to come.
The economic shock from the fall of European economies like Greece, Portugal or Italy leaving the Eurozone would be much larger than from the disorderly collapse of Lehman Brothers in their Fall of 2008.
If a Euro crisis unfolds, global growth would slow down and trade would shrink, with emerging markets also adversely effected by the fiscal train wreck.
“ Well, you know, I’m putting most of my money into cash. A sophisticated high net worth individual all 100% into cash. This is not the time to be in risky assets.” – Dr. Doom Nouriel Roubini